What will be optimal cash replenishment level

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Reference no: EM132068971

Rose Axels faces a smooth annual demand for cash of $5.09 million, incurs transaction costs of $284 every time the company sells marketable securities, and can earn 5.2 percent on its marketable securities.

What will be its optimal cash replenishment level? (Enter your answer in dollars not in millions. Round your answer to 2 decimal places.)

Optimal Cash --- $

Reference no: EM132068971

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